This improved visibility into financial information can help businesses identify areas where they can reduce costs, optimize operations, and improve efficiency. Accounting is perhaps one of the most crucial departments of any business, including trucking and transportation. A good and efficient accounting department helps retain customers and keep your employees happy. However, we want to see some improvement in terms of accounting features.
Take the software for a spin and make use of any free trial periods the vendor offers. As soon as you determine a tool doesn’t meet your needs, though, don’t hesitate to find a more suitable alternative. When running a farm, as when working in most professions, the right tool can make all the difference. A power tool can help you accomplish a job faster than a hand tool, and a tractor can work faster than a hand plow.
Standard Features of Trucker Bookkeeping Software
The system allows for batch payroll processing and customizable reporting, which includes summaries, tax audits, and W-2 printing for year-end. A separate trucking module is available at an additional cost, including tools for owner-operators and carriers. However, without this extra module, QuickBooks lacks the industry-specific functionality of standalone trucking accounting solutions. Q7 is a great option for an all-inclusive software that fully integrates with other industry tools.
- Automates the process of running financial reports including expense reports, profit and loss (P&L) statements and balance sheets.
- Small businesses can also start with Quickbooks and then later pair it with a trucking management system that integrates with Quickbooks.
- It can also automatically calculate driver settlements, ensuring that drivers are paid accurately and on time.
- Automated invoicing, customizable templates, and efficient billing and payment processing features contribute to the success and growth of a trucking business.
- For instance, you can capture receipts, record expenses related to fuel, tolls, maintenance, and other business costs, and then categorize them for reporting and tax purposes.
- The software targets larger trucking businesses that want to minimize their office staffing.
The best trucking accounting software providers typically offer multi-channel support, including phone, email, and chat support options. QuickBooks Online is a web-based accounting software that manages the financial aspects of your business. There are no installations or downloads necessary to use this software, and it can be accessed from any web browser. As such, it is imperative that you prioritize the management of your accounts and invest in premium trucking accounting software. Set your business up for success by choosing the best accounting software for trucking companies. Whether it’s a problem with the numbers or the software, there may be times when you need help from a professional.
Quicklook: Best Trucking Accounting Software
Truckers report liking the user-friendly system and find the software has all the basic tools to run their business. The driver settlements function lets you calculate driver pay by the mile, load percent, or a flat rate per trip. IFTA reporting is also easy thanks to Rigbooks importing the latest fuel tax rates for all jurisdictions automatically. All the applications on this list offer good bookkeeping capability.
Additionally, the platform didn’t do well in pricing as prices are not publicly disclosed on the provider’s website. It also fell short in ease of use, as we found the interface outdated and difficult to master. We recommend at least four to eight hours to familiarize yourself with its features. If you want something easier to use, then our top recommendation is Rigbooks. Moreover, we believe Q7 could improve its customer service by offering phone support and live chat, just like Zoho Books.
“What if I have multiple trucks?”
NorthOne has designed business banking services for small business owners across America. Our services help small business owners manage their finances, save for expenses, monitor cash flow, and more. Invoicing and billing are critical functions for any trucking business. Your accounting software should offer robust capabilities that allow you to create custom invoice templates, track invoice status, and accept payments online. Additionally, the software should be able to handle various billing structures, such as mileage-based billing and hourly billing. The software can automatically calculate fuel taxes based on fuel consumption and miles traveled, reducing the risk of errors and penalties.
FreightWaves Ratings reference a list of approved sources for use of research to support editorial research and drafting. It can provide key insights into your profits and losses so you can find areas to improve and grow your business. Accounting software is supposed to make managing your business’ finances easier, not harder. However, if you use a user-unfriendly platform, your business will waste time instead of saving it. We checked the availability of different customer support options, including phone support, email, and live chat.
Trucking accounting software streamlines the process of handling accounts receivable and payable, by automating payment reminders, generating reports, and providing real-time insights into cash flow. This ensures truckers can maintain healthy relationships with both clients and suppliers by paying bills and collecting payments on time. Companies can use trucking accounting software to track mileage, truckers bookkeeping generate invoices, do payroll, pay expenses, generate profit reports and so much more. Trucking accounting software has unique features, such as the ability to dispatch drivers and track load status. Meanwhile, general purpose bookkeeping software lets you perform common accounting tasks, such as invoicing, billing, and expense tracking but they often lack specialized trucking features.